Lucy & Yak increased their customer spend by 80% thanks to their on-brand loyalty program
While clothing’s absolute numbers are steadily climbing, worldwide revenue growth—as represented by compound annual growth rate—is slowing: down from 15.3% in 2018 to 7.6% by 2022. Still, with their unique brand values, Lucy & Yak has been able to build an influential brand identity in just two years. However, they needed to increase engagement and drive retention in order to strengthen their growing brand community further.
As a fast-growing brand, a key objective for Lucy & Yak’s ecommerce team was to secure ongoing revenue. To achieve this, they created a fully-customized loyalty program that would complement their brand identity, and help them to increase both repeat purchase and customer spend.
First, Lucy & Yak’s team implemented a tiered loyalty program structure. Customers can progress across three levels; Comfort Lover, Yak Enthusiast, and Dungaree Devotee based on their Yak Points.
Lucy & Yak had a growing, engaged community. However, they wanted to find new ways to show that community it was valued. Lucy & Yak’s team began offering a £10 voucher for every 1000 points earned in order to demonstrate to customers that their custom was appreciated. By offering rewards that were not too difficult to attain but worth accumulating points for, Lucy & Yak’s team increased the number of orders that loyalty program members make.
To get their existing engaged community talking about their brand, Lucy & Yak implemented a referral strategy that helped to drive more cost-effective customer acquisition.
Working together with LoyaltyLion, Lucy & Yak increased the customer spend of loyalty program members by 80%. They also increased the number of orders made by members by 78% and saw the likelihood of those engaging in the program purchasing up to 5 times increase by 85%.